Home September 13, 2016

September 13, 2016

Volume 3 Issue 37

Aftermarket Deals in Vogue in China

Partnerships with online-to-offline auto care service providers are proving a popular way for domestic and international lubricant companies to score sales in China.

Showa Shell's Tie-up with Idemitsu in Knots

Idemitsu Kosan Co.s acquisition of Showa Shell Sekiyu K.K. - inked last year for closure this month - has been delayed again due in part to Idemitsu board members resistance.

SK, Sinopec Discuss Cooperation

SK Group and Sinopec are seeking to expand their areas of cooperation in China to extend to their petroleum, base oil and lubricant businesses, the South Korean conglomerate said Friday.

Profits Jump at Hi-Tech

Pakistani lube supplier Hi-Tech Lubricants Ltd. reported a 61 percent jump in its annual net profit, thanks to higher sales and lower finance costs.

Briefly Noted

PT Pertamina Lubricants recently began supplying industrial lubricants and grease to Indonesian sugar manufacturer PT Sukses Mantap Sejahtera. Demand for synthetic lubricants in Asia-Pacific is projected to rise at a compound annual growth rate of 3.9 percent through 2022 on account of growing automobile sectors in China, India, Malaysia and Indonesia, according to Grand View Research.

Base Oil Reports

purple world americas

Asia Base Oil Price Report

Growing base stock supply and weakening seasonal demand, along with the reopening of some regional base oil plants, have all been exerting pressure on spot prices. Volatile crude oil costs are also contributing to the softer tone. - by Gabriela Wheeler
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